The Process of Buying a Home in Farragut, TN

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Get Familiar with the Lay of the Land in Farragut, TN

Ready to lay down some roots and buy a house in Farragut? Smart move! You've chosen an energetic city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers nationwide and know the Farragut housing market well.

Farragut is growing by the day, which means Farragut homes don't always come cheap. Sustained support for local businesses and cultural growth have helped to beckon entrepreneurs, retirees, and new graduates to the Farragut area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Despite this, Farragut and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (ideally) your perfect home! When looking to buy a house in Farragut, consider the home's location in relation to your everyday activities. If you can, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Discovering different parts of Farragut will help you see how the northern part differs from the southern part, what the communities are like, and where to find Farragut's coolest attractions.

You're ready to buy a house in Farragut, but is your bank account? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe everyone can find their dream home and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Farragut. We serve experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Farragut.

Before anything else, estimate how much house you can afford. This will help determine the price range for your Farragut house hunt. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Farragut will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Now, consider how much you can contribute to a down payment. A down payment of at least 20% can help improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. Here's where it can help to get prequalified for a mortgage. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Farragut, TN

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Farragut, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Farragut. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

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